Xinyuan Real Estate Investor Presentation November 2014 Disclaimer

This presentation has been prepared by Xinyuan Real Estate Co., Ltd. (“Xinyuan” or the “Company”) and has not been independently verified. No representations or warranties, express or implied, are made and no reliance should be placed on the accuracy, fairness or completeness of the information presented or contained in these materials. Neither the Company nor any of its affiliates, advisers or representatives or the Bookrunner accept any responsibility whatsoever for any loss howsoever arising from any information presented or contained in or derived from these materials. The information presented or contained in these materials is subject to change without notice and its accuracy is not guaranteed. None of the Company, any underwriter, or any of their respective directors, officers, employees, agents or advisors shall be in any way responsible for the contents of this presentation, or shall be liable for any loss arising from use of the information contained in this presentation or otherwise arising in connection therewith.

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The information contained in this presentation does not constitute or form part of any offer to sell or issue or solicitation or invitation of an offer to buy or acquire securities of Xinyuan in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Specifically, this presentation does not constitute a “prospectus” within the meaning of the U.S. Securities Act of 1933, as amended. The company has filed a registration statement with the U.S. Securities and Exchange Commission (“SEC”) for the securities to be offered in the proposed offering. Any decision to purchase securities in the proposed offering should be made solely on the basis of the information contained in the prospectus included in the registration statement. This presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and uncertainties involved within an investment in the securities of the Company, and is qualified in its entirety by reference to the detailed information appearing in the prospectus. Before you invest, you should read the prospectus supplement and prospectus in the registration statement and other documents the Company has filed with the SEC in connection with this proposed offering for more complete information about the Company and this offering. You may get these documents for free by visiting the SEC Web site at www.sec.gov.

1 Contents

I Company Overview

II ’s Property Industry

III XIN’s Development Strategy

IV Business Updates

V Financial Highlights

VI Appendix

2 Company Overview

 A leading real estate developer focusing on High Growth Cities in China  Provides high-quality, affordable residential projects to middle income customers  Solid operational track record in 12 cities, covering 118.5 million people  First Chinese real estate developer listed on NYSE, first Chinese developer in NYC

As of Sep 30,2014 No. of Projects GFA(‘000M2) Completed 29 3,821 Under construction 15 2,959 Under planning 6 1,045 Properties held 2 3 Total 52 7,802

Contracted Sales (US$ mm)

1,200

800

400

0 2011 2012 2013 1-9M2013 1-9M2014

3 Corporate Milestones

Xinyuan has achieved sustainable and stable growth in its more than 17 years of operational history Inaugural Period Brand Establishment Expansion Period Accelerated Expansion Period 1997 — 2000 2001 — 2005 2006 — 2007 2008 — Current

Zhengzhou Longhai Star Xinyuan International Xinyuan Lake Royal City Family Garden Splendid City Garden Splendid Palace

 Expanded operations to  Achieved over 100% three Tier II cities – growth in Net Profit to  Completion of the Jinan, Suzhou and  Established in  Expanded operations to , a Tier III city in China over US$100 mm Company’s landmark  Blue Ridge China Partners  Acquired two pieces of Zhengzhou,  Acquired over 1 mm sqm land bank in China through project – Zhengzhou and Equity International land parcels in Province land auctions Xinyuan Splendid became pre-IPO strategic Zhengzhou and Xuzhou investors in April with total saleable GFA of 314,300 sqm

1997 2004 2005 2006 2007 2008 2009 2011 2012 2013 2014

 Ranked No.1 among  Acquired two pieces all property of land parcels in  Issued US$400  Xinyuan’s Suzhou and million bond in  developers in  Expanded operations to two Tier II cities – with saleable GFA of Acquired 7 headquarters aggregate Zhengzhou in terms Chengdu and Kunshan 244,500 sqm parcels of land in were relocated   Acquired 9 land of contracted sales  Listed on NYSE in December, raising a Entered the U.S. 6 cities with GFA from Zhengzhou residential market parcels with GFA of residential units in total of US$282 mm of 1.2 million sqm to Beijing through acquisitions of 1.4 million sqm 2004, 2005 and in California, Nevada 2006(1) and New York Zhengzhou Central Suzhou Colorful Hefei Wangjiang Zhengzhou Yipin Zhengzhou Xindo New York Project Sanya Yazhou Bay Garden Garden Garden Xiangshan Phase I Park

1. Based on contracted sales of residential units according to the Bureau of Real Estate Management in Zhengzhou. 4 Attractive Valuation

Ticker XIN (NYSE) Market Cap. $199 million

Price $2.50 Shares Out 79.4 million ADS

P/E 3.8x P/B 0.21x

Net Profit Rev. Growth 18.9% (2009~2013 CAGR) 31.4% (2009~2013 CAGR) Growth

Book value vs Stock price 16.0

11.5 12.0 11.9 11.9 11.8 12.0 10.7 10.0 10.3 9.2 9.5 8.0

4.0

0.0 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

Note: as of Nov 11, 2014 5 China’s Property Industry

Key factors to drive China’s property development in the next 10 years

 Sustainable GDP growth of around 7%;  Urbanization – China is in urbanization period, which may last decades. People moving from rural area to city, from small city to big city;

Frequently asked questions on China’s property industry • Supply exceeding demand? Probably supply exceeds demand in certain tier III and IV cities with population flowing out and no economy support, but not in dynamic Tier I and Tier II cities with population flowing in and dynamic economy development;

6 Update of China’s Real Estate Market

China’s real estate market has shown softness in certain cities with weak transaction volume since April 2014  High growth in 2012 and 2013 released certain rigid demand  Credit tightening at the beginning of 2014 and adjustment in the property market caused slow down of China’s property market

Policies issued to stimulate the market  Most cities ease home purchase restriction  Central bank eases the credit policy and lower the interest rate of mortgage to 30% below benchmark

7 Xinyuan’s Strategy Focused on High Growth Cities

Xinyuan’s projects in China are mainly located in low-risk and fast-growing cities. The fast growing regional economy has generated substantial housing demand Focus on High-Growth Cities 2013 Economic Indicators Population (million) GDP Growth Rate 1 Chengdu 16.4 10% 2 Zhengzhou 9.2 12.0% 3 Jinan 7.0 9.6% 8 4 Hefei 7.6 12.5% 3 5 Suzhou 6.5 9.8% 7 12 2 6 Kunshan 2.4 10% 56 4 11 7 Xuzhou 10.0 11.8% 1 10 8 Beijing 21.1 7.7% 9 Sanya 0.7 9.3% 10 Changsha 7.2 12% 11 Shanghai 24.2 7.7% 9 12 Xi’an 8.6 11.1% China 1,360.7 7.7% Increasing Urbanization in China GDP Growth Comparison

24.0% 60.0% 52.6% 53.4% 48.3% 50.0% 51.3% 17.2% 16.9% 44.3% 45.9% 47.0% 16.0% 12.7% 14.2% 13.7% 13.0% 14.2% 13.0% 9.6% 10.4% 11.3% 10.3% 40.0% 9.2% 9.2% 7.8% 7.7% 8.0% 20.0% 0.0% 2006 2007 2008 2009 2010 2011 2012 2013 0.0% 2006 2007 2008 2009 2010 2011 2012 2013 China (Average) Xinyuan Project Cities (Average)

Source: China Statistical Yearbook, National Bureau of Statistics of China and National Economic and Social Development Statistics Bulletin of the respective cities. 8 Xinyuan’s Strategy Cater to Mid-income End-Users

Xinyuan operates in cities with a larger middle-income class and more reasonable housing price

 Xinyuan’s projects are located in the dynamic and high growth cities, and are popular among the middle-income class  The Company has expanded its operations through urbanization and the development of local economies under the 12th “Five-Year Plan”  Xinyuan expect its land bank to be sufficient for the Company’s development needs in the next 3-5 years

Xinyuan’s Residential Projects to Meet the Inelastic Demand from the Middle-Income Class 2013 Total Property Value Distribution 2013 Urban Household Disposable Income(1)

(RMB ‘000s) (RMB ) 120000 40% 38%

30% 26% 25% 80000

20% 40000 8% 10% 3% 0 0% <400 400-800 800-100 100-120 >120

Source: 2013 China Statistical Yearbook and National Economic and Social Development Statistics Bulletin of the respective cities. 1. Assuming 2 working family members per household. 9 Xinyuan’s Strategy Prudent and Diversified Land Acquisition Strategy

 Xinyuan is committed to acquiring attractive land bank in a disciplined manner. The Company has maintained a stable land bank throughout the years

 Xinyuan pursues a prudent and diversified land acquisition strategy. The Company believes that it is crucial to acquire land Prudent Yet reserves in selected cities at the appropriate timing and prevent the Company from bearing unnecessary risks  The Company establishes deep and early involvement and negotiations with local government to increase certainty of Diversified land acquisition Land Bank  The Company, acquires quality land parcels that are ready for construction by auction, and avoid high relocation costs Strategy and complicated procedures  The Company expects its land bank will be sufficient to satisfy its development needs in next three to five years

 Target The Company acquires quality land parcels while seeking for profitability  Xinyuan mainly acquires its land bank through land auction and acquisitions Investment  Projects’ target gross margin and net margin are typically above 25% and 10%, respectively Margins  Land acquisitions are usually self-funded. Current Average Land Cost is generally at 35% of Average Selling Price

Prudent Land Acquisition Strategy and Stable Pipeline

4,000 8 8 7 7 7 3,165 2,974 5 3,000 2,718 2,783 3

2,000 1 2010 2011 2012 2013

Projects under construction and planning (GFA,000sqm) Number of cities present in China

10 Xinyuan’s Strategy “Rapid Asset Turnover” Business Model

Jun 2014 LTM Asset Turnover Ratios(1)

38.7%

34.9% 31.9%

Average of selected peers: 25.9% 22.9% 21.6% 18.6%

Xinyuan Yuzhou Cifi Fantasia CCRE China SCE

Xinyuan adheres to a “rapid asset turnover” business model, and has relatively higher asset turnover ratio compared to peers

Note: Asset Turnover Ratio is computed as LTM Total Revenue / Average Total Assets. Assumes RMB6.14 per US$1.00 and HK$1.26 per RMB1.00 The information and comparison contained above has not been independently verified and its accuracy is not guaranteed (other than the information concerning the Company). No representations, warranties or undertakings, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness, completeness or correctness of the information presented or contained above (other than the information concerning the Company). Neither the Company nor the underwriters nor any of their affiliates, advisers or representatives shall have any liability whatsoever in negligence or otherwise for any loss arising from any information or comparisons presented or otherwise arising in connection with the above information. (1) Based on Xinyuan and peer company filings of latest financials. All numbers are pro forma for respective senior notes and share issuances as of March 10, 2014 11 Xinyuan’s Strategy Pre-selling Mitigates Financing and Overall Development Risks

Average Development Process (Project with GFA of 200,000sqm) Funding sources

Cash outflow Cash inflow  Land cost: 35% of Quarter 1 2 3 4 5 6 7 8 9 10 total project cost  Land use Equity permit/Design Land permit/Construction acquisi- permit: 10% of total tion Development project cost phase Planning and Deli- Construction architecture design very

Construction  Bank loan is available loans up to 65% of land cost

Equity Bank loans Sources of funding

Pre-sales  Full amount paid by buyers at pre-sale stage Pre-sale proceeds  Sales contract non-recourse unless Contract 30% 35% 30% developer defaults on sales delivery

• Construction starts within 2-3 quarters upon land acquisition • 95% sales completed before project completion • Pre-sales starts within 3-4 months after construction commence • Cash flow becomes positive in the 4th-5th quarter

12 Business Updates

2013 Highlight  Issued bonds of $400 million  Started pre-sales of 4 projects: Zhengzhou XIN City, Suzhou XIN City, Xuzhou Colorful City and Kunshan Royal Palace  Acquired 9 parcels of land in Zhengzhou, Xingyang, Kunshan, Suzhou and Ji’nan respectively, with total GFA around 1.4 million sqm at total cost around RMB3.6 billion(or $580 million)  Repurchased 1.31 million ADS at total cost of aroundUS$5.8 million  Quarterly dividend payment of US$0.05/ADS

9M14 Highlight  Acquired 4 parcels of land in Chengdu, Sanya, Changsha and Shanghai respectively in Q1, with total GFA around 643,000 sqm at total cost around RMB2.9 billion(or US$475 million);  Acquired Shaanxi project with total GFA around 294,100 sqm at total cost of around US$93.8 million in July;  Started presales of Beijing Xindo Park in Q1, Xingyang Splendid I , Zhengzhou Thriving Family and Jinan Royal Palace in Q2, Suzhou Lake Royal Palace and Chengdu Thriving Family in Q3, with total GFA of 1.2 million sqm  Repurchased 3.08million ADS at total cost of aroundUS$13.7 million  Quarterly dividend payment of US$0.05/ADS

13 Business Updates Major Active Projects in China

Total GFA % Sold Land Cost ASP Time of Pre-sale Project (‘000 sqm) (RMB/sqm) (RMB/sqm) Commencement

Zhengzhou Xin City 206 79% 2,689 9,282 Sep.13

Kunshan Royal Palace 284 22% 2,969 9,456 Nov.13

Suzhou Xin City 127 92% 2,121 8836 Sep.13

Jinan Xinyuan Splendid 575 91% 1,913 8,684 May.11

Xuzhou Colorful City 129 29% 1,821 9,129 Nov.13

Beijing Xindo Park 132 36% 7,798 22,037 Mar.14

Zhengzhou Thriving Family 143 43% 1,094 7,216 Jun. 14

Xingyang Splendid I 118 26% 990 5,274 May. 14

Jinan Royal Palace 448 5% 2,683 6,497 Jun.14

Suzhou Lake Royal Palace 169 1% 5,909 11,095 Jul. 14

Chengdu Thriving Family 215 0.2% 4,347 5296 Sept. 14

Notes: As of Sept 30, 2014, Central East A, B and Zhengzhou Royal Palace were nearly sold out 14 Business Updates Active Projects

Timeline for current projects

2013 2014 2015 J F M A M J J A S O N D J F M A M J J A S O N D J F

1.Jinan Splendid PS started in May 2011, 9% unsold

2.ZZ XIN City PS started in Sep 2013 21% unsold

3.SZ XIN City PS started in Sep 2013 8% unsold

4.XZ Colorful City PS started in Nov 2013 71% unsold

5.KS Royal Palace PS started in Nov 2013 78% unsold

6.BJ Xindo Park PS started in Mar 2014 64% unsold

7.Xingyang Splendid I PS started in May 2014 74% unsold

8.ZZ Thriving Family PS started in Jun 2014 57% unsold

9.JN Royal Palace PS started in Jun 2014 95% unsold

10. SZ Lake Royal Palace PS started in Jul 2014 99% unsold

11. CD Thriving Family PS started in Sep 2014 99% unsold

Unsold GFA of Active Projects : 1,488,800 sqm. (as of Sept 30, 2014)

Notes: C – Construction ; PS – Pre-sales ; Central East A, B and Zhengzhou Royal Palace were nearly sold out 15 Business Updates Projects Under Planning in China

Pre sales Total GFA Anticipated (‘000 sqm) schedule

Xinyuan Splendid II & III 177.4 Q4 2014

Sanya Yazhou Bay No.1 117.8 Q4 2014

Shanghai Royal Palace 57.2 Q4 2014

Changsha Xinyuan Splendid 252.6 Q4 2014

Newly Acquired Shaanxi Land 294.1 Q2 2015

Zhengzhou Thriving Family( commercial) 146.2 Q4 2014

Total projects under planning 1,045.3

16 Financial Highlights

2013 vs 2012 Unit: US$ mm • Contract sales increase was due to project expansion; we had 4 new projects commence presales in 2013 • Revenue decrease was due to a higher percentage of 2012 2013 YoY% 2014E YoY%E completion of more mature development projects in their near completion stage resulting in higher revenue in 2012, as well as from lower percentage of Contract sales 836 1,000 20% 1,145 15% completion from two of the Company’s major development projects—Suzhou XIN City and Xuzhou Colorful City, each of which launched in the third and (2%) (4.0%) Revenue 915 898 862 fourth quarters 2013 respectively

Net Income 158 126 (20%) 33 (74%) 3Q14 vs 2Q14 • Contract sales and Revenue decrease was mainly due to market slow down • Net income increase was mainly due to tax reversal QoQ% QoQ%E 2Q14 3Q14 4Q14E 2014 E vs 2013 • Expected contract sales increase is mainly due to Contract sales 199 168 (16%) 505 200% project expansion with 10 projects starting presales in 2014

Revenue 167 164 (2%) 305 86% • Expected net income decrease is due to lower gross margin at the beginning period by using POC reorganization method, higher interest expenses and Net Income 6.8 7.8 (15%) 8 3% higher SG&A due to rapid expansion; we believe the net margin will go up as projects mature

17 Financial Highlights (Cont’d)

GFA sold （ ’000 sqm） Revenue （USD million）

300 242 320 289 253 263 195 226 241 226 200 170 240 198 152 149 173 133 147 169 167 164 115 125 127 100 160 100 80

0 0

Net income (USD million) Net Earnings per ADS (USD)

80.0 69.4 Earnings/ADS 60.0 1.20 39.4 0.94 31.933.6 31.6 40.0 26.6 28.7 0.80 23.2 0.440.47 0.54 0.31 0.37 0.390.36 20.0 10.1 7.8 0.40 6.8 0.120.08 0.10 0.0 0.00

18 Financial Highlights (Cont’d) Steady Growth while Maintaining Healthy Financial Metrics

The Company has achieved a steady growth in revenue and profit margins, while maintaining a net cash position Total Revenue and Gross Profit (US$mm) EBITDA(1) and Funds from Operations(2)

1,200 300 262 40.0% 915 898 225 30.0% 800 688 200 159 160 29.2% 23.1% 24.6% 129 450 19.0% 106 20.0% 299 85 400 200 280 100 54 116 10.0% 0 0 0.0% 2010 2011 2012 2013 2010 2011 2012 2013

Total Revenue Gross Profit EBITDA Funds from Operation EBITDA Margin

Net Profit (US$mm) and Net Margins Total Debt and Cash (US$mm)(3)

240.0 24.0% 1200

157.017.5% 837 811 160.0 16.0% 14.9% 126.4 800 642 102.3 13.4% 11.4% 488 80.0 51.1 8.0% 400 296 296 286 314

0.0 0.0% 0 2010 2011 2012 2013 2010 2011 2012 2013 Net Profit Net Margin Cash and Cash Equivalents Total Debt

1. EBITDA is computed by Operating Income + Depreciation + Finance Costs. 2. Funds from Operations is computed by Net Income + Depreciation. 3. Includes restricted cash. 19 Financial Highlights (Cont’d) Steady Growth while Maintaining Healthy Financial Metrics

Debt increase in 2013 with project expansion, but still secure healthy financial metrics

EBITDA Interest Coverage Ratio(1) Funds from Operations(2) / Total Debt 60.0% 20 17.5 50.9% 16 40.0% 36.9% 12 6 8 18.2% 15.9% 3.1 20.0% 4 2.8

0 0.0% 2010 2011 2012 2013 2010 2011 2012 2013

Total Debt / EBITDA(1) Total Debt / Total Capitalization(3)

4 3.5 60.0% 3.1 46.0% 3 37.7% 40.0% 31.1% 28.6% 2 1.8 1.4 20.0% 1

0 0.0% 2010 2011 2012 2013 2010 2011 2012 2013

1. EBITDA is computed by Operating Income + Depreciation + Finance Costs. 2. Funds from Operations is computed by Net Income + Depreciation. 3. Total Capitalization is computed by Total Debt + Total Shareholders’ Equity. 20 Financial Highlights (Cont’d) Liquidity Trends

Total cash (US$mm) Net gearing ratio (%)

1000 875 837 100% 796 89% 800 80% 655 683 605 609 642 626 60% 66% 600 516 553 40% 400 31% 20% 200 0% -3% -20% 0 -31% -35% -38% 1Q122Q123Q124Q121Q132Q133Q134Q131Q142Q143Q14 -40% -42% -43% -52%-48% -60%

Total debt (US$mm) EBITDA Interest Coverage Ratio

1600 1392 20 1311 17.5 1200 16 947 811 12 800 511 516 8 6 314 316 400 283 229 251 4 2.8 3.1 0 0 2010 2011 2012 2013

21 Appendix I Financial Statements P&L Summary

P & L (Q3 2014 vs Q2 2014) (All US$ amounts and number of shares data in thousands, except per share data)

Q3 2014 Q2 2014

($'000) % ($'000) %

Revenue 163,612 100.0% 166,824 100.0% Cost of sales (120,154) -73.4% (123,565) -74.1% Gross Profit $43,458 26.6% $43,259 25.9% Selling expenses (8,495) -5.2% (8,857) -5.3% G&A expenses (23,642) -14.5% (26,761) -16.0% Operating income $11,321 6.9% $7,641 4.6% Interest income 2,980 1.8% 1,355 0.8% Interest expense (5,904) -3.6% (7,467) -4.5% Income from change in FV of short-term investment 2,105 1.3% 0 0.0% Other income (1) 0.0% 3,109 1.9% Exchange gains (loss) 0 0.0% 50 0.0% Share of income (loss) in an equity investee (227) 0.0% (201) -0.1% Earnings before tax $10,274 6.3% $4,487 2.7% Income Tax (2,501) -1.5% 2,345 1.4% Net income $7,773 4.8% $6,832 4.1%

23 P&L Summary

P & L (YoY) (All US$ amounts and number of shares data in thousands, except per share data)

Q3 2014 Q3 2013

($'000) % ($'000) %

Revenue 163,612 100.0% 240,665 100.0% Cost of sales (120,154) -73.4% (162,152) -67.4% Gross Profit $43,458 26.6% $78,513 32.6% Selling expenses (8,495) -5.2% (5,633) -2.3% G&A expenses (23,642) -14.5% (17,397) -7.2% Operating income $11,321 6.9% $55,483 23.1% Interest income 2,980 1.8% 4,085 1.7% Interest expense (5,904) -3.6% (5,608) -2.3% Income from change in FV of short-term investment 2,105 1.3% 0 0.0% Other income (1) 0.0% 0 0.0% Share of income (loss) in an equity investee (227) 0.0% 0 0.0% Earnings before tax $10,274 6.3% $53,960 22.4% Income Tax (2,501) -1.5% (25,212) -10.5% Net income $7,773 4.8% $28,748 11.9%

24 P&L Summary

P & L (YTD YoY) (All US$ amounts and number of shares data in thousands, except per share data) 2014 YTD 2013 YTD

($'000) % ($'000) %

Revenue 556,848 100.0% 608,578 100.0% Cost of sales (410,762) -73.8% (404,512) -66.5% Gross Profit $146,086 26.2% $204,066 33.5% Selling expenses (22,133) -4.0% (11,281) -1.9% G&A expenses (69,897) -12.6% (38,848) -6.4% Operating income $54,056 9.7% $153,937 25.3% Interest income 5,866 1.1% 8,596 1.4% Interest expense (22,012) -4.0% (10,450) -1.7% Income from change in FV of short-term investment 2,105 0.4% 0 0.0% Other income 3,108 0.6% 0 0.0% Exchange gains (loss) 50 0.0% 0 0.0% Share of income (loss) in an equity investee (645) -0.1% 0 0.0% Earnings before tax $42,528 7.6% $152,083 25.0% Income Tax (17,873) -3.2% (57,357) -9.4% Net income $24,655 4.4% $94,726 15.6% Earnings Per ADS Basic 0.32 1.33 Diluted 0.30 1.31

25 Balance Sheet

As of Sep 30, As of Dec 31, As of Sep 30, As of Dec 31, 2014 2013 2014 2013 ($'000) ($'000) ($'000) ($'000) Cash and cash equivalents and 557,986 837,217 Short-term bank loans 170,662 23,291 short-term investment Accounts payable & other Deposits for land use right 359,437 297,389 341,672 287,487 payables Receivables & other prepayment 284,784 149,740 Customer deposits 106,803 75,285 Real Estate property held for sale 1,694 5,524 Tax payable 47,543 121,642 Real estate property development 12,629 21,260 Deferred tax liabilities 103,428 78,958 completed Real estate property under Current portion of long-term 1,599,106 932,519 359,553 217,964 development bank loans and other debt Current maturities of capital Other current assets 13,404 879 2,994 2,746 lease obligations Total current assets 2,829,040 2,244,528 Total current liabilities 1,132,655 807,373 Long-term bank loans 39,303 32,804 Real estate properties held for lease, 62,499 60,410 Deferred tax liabilities 10,575 9,385 net Property and equipment, net 46,697 46,706 Unrecognized tax benefits 16,166 16,314 Other non-current assets 46,868 30,455 Other long-term debt 821,982 536,943 Capital lease obligations, net 24,087 26,646 of current maturities Redeemable noncontrolling 2,836 0 interests Total non-current assets Total liabilities 2,047,604 1,429,464 156,064 137,572 Total Shareholder's Equity 937,500 952,636 Total liabilities & TOTAL ASSETS 2,985,104 2,382,100 shareholder's Equity 2,985,104 2,382,100

26 Appendix II Typical Active and New Projects Beijing Xindo Park

62km to Airport Project highlights

Date Purchased: Sep 2012 37km to CBD Total GFA: 132,000 sqm Site Area: 57,862 sqm Land premium: RMB1,030 million Floor price: RMB7,798/sqm ASP: RMB22,037 Presale Date: Q1 2014 1km to 6th ring Construction Period: Q4 2013 – Q4 2016 XIN project Master Planning: Residential

• Located in Daxing District of Beijing next to south 6th ring. We will build smaller-sized, affordable apartments for Beijing commuters. We started presales in March.

28 Jinan Royal Palace

Project highlights

Date Purchased: Nov 2013 Total GFA: 448,000 sqm Site Area: 140,000 sqm Land premium: RMB1,200 million Floor price: RMB2,683/sqm ASP: RMB6,497/sqm Presale Date: Q2 2014 Construction Period: Feb 2014 – Jun 2016 Master Planning: Residential

• This project is next to Jinan express railway station, which is a key development area in Jinan.

29 Xingyang Splendid I,II &III

Project highlights

Date Purchased: Sep 2013 Total GFA: 295,000sqm Site Area: 96,000 sqm Land premium: RMB242 million Floor price: RMB819/sqm ASP: RMB5,274/sqm Presale Date: Q2 2014 Construction Period: Apr 2014 – Dec 2018 Master Planning: Residential & Commercial

• Located in down town of Xingyang, which is 15 km to Zhengzhou City.

30 Zhengzhou Thriving Family

Project highlights

Date Purchased: Sep 2013 Total GFA: 289,000 sqm Site Area: 84,000 sqm Land premium: RMB321 million Floor price: RMB1,112/sqm ASP: RMB7,216/sqm Presale Date: Q2 2014 Construction Period: Apr 2014 – Apr 2017 Master Planning: Residential & Commercial

• The Project is located in the Er Qi District of Zhengzhou, which is near the south 4th ring road of the city.

31 Suzhou Lake Royal Palace

Project highlights

Date Purchased: Sep 2013 Total GFA: 169,000 sqm Site Area: 114,624 sqm Land premium: RMB1000 million Floor price: RMB5,900/sqm ASP: RMB11,095/sqm Presale Date: Q3 2014 Construction Period: Apr 2014 – Oct 2015 Master Planning: High rise

• The land parcel is located next to Jinji Lake scenic spots in Suzhou City, Province.

32 Sanya Yazhou Bay No.1

Project highlights

Date Purchased: Jan 2014 Total GFA: 118,000 sqm Site Area: 78,831 sqm Land premium: RMB357 million Floor price: RMB3,029/sqm Estimated ASP: RMB13,000/sqm Presale Date: Q4 2014 Construction Period: Q4 2014 – Q4 2016 Master Planning: SOHO

• In recent years, purchasing holiday properties has become increasingly popular. Sanya has been the most popular domestic tourist destination for four consecutive years.

• SOHO originally refers to Small Office/ Home Office, while now it is regarded as small apartment at GFA of 40-80 sqm for office, living and hotel function.

33 Chengdu Thriving Family

Project highlights

Date Purchased: Jan 2014 Total GFA: 214,811 sqm Site Area: 75,038 sqm Land premium: RMB934 million Floor price: RMB4,347/sqm Presale Date: Q3 2014 Construction Period: Q3 2014 – Q2 2017 Master Planning: High rise

• The land parcel is located in Tianfu New District, a new economic zone in Chengdu City, the capital city of southwest China’s province

34 Changsha Xinyuan Splendid

Project highlights

Date Purchased: Mar 2014 Total GFA: 252,647 sqm Site Area: 89,460 sqm Land premium: RMB689 million Floor price: RMB2,727/sqm Presale Date: Q4 2014 Construction Period: Q4 2014 – Q3 2017 Master Planning: High rise

• The target project is next to Meixi Lake, which is the most important development area in Changsha, while the GDP per capita in Changsha is ranked No.1 among China’s central provinces

35 Shanghai Royal Palace

Project highlights

Date Purchased: Apr 2014 Total GFA: 57,185 sqm Site Area: 28,600 sqm Land premium: RMB914 million Floor price: RMB15,983/sqm Presale Date: Q4 2014 Construction Period: Q4 2014 – Q3 2016 Master Planning: High rise

• This land parcel is located 17 kilometers west of Shanghai’s Hongqiao Airport in the scenic Qingpu District. A subway line passing through the area is under construction and is projected to open in early 2017.

36 Shaanxi New Project

Project highlights

Date Purchased: July 2014 Total GFA: 294,065 sqm Site Area: 85,118 sqm Land premium: RMB580 million Floor price: RMB1,971/sqm Presale Date: Q2 2015 Construction Period: Q4 2014 – Q3 2016 Master Planning: High rise

This land parcel is located in Daxing New District in the northwest area of Xi’an City, close to the Second Ring Road. The land parcel is comprised of two pieces with the larger area intended for residential development and the smaller area for commercial development.

37 U.S. Projects Overview

The U.S. portfolio mainly comprises developed projects with relatively lower development risks Brooklyn New York Project

Manhattan

Xinyuan Williamsburg Project

 Purchased Date: September 2012  We started presales at the end of June with controlled  Total GFA: 37,078 sqm manner so that each customer is treated as VIP, and they  Site Area: 8,094 sqm have the sense that prices will increase. As of mid August, we have completed 25 to 30 contract sales, and  Land Premium: US$54.2 million the trend is encouraging.  Average Floor Price: RMB9,195 / sqm  Construction Commencement Date: Q4 2013  Expected Date of Completion: Mar 2015  Type of Products: Multi-layer building

38 Appendix III Project Summary Projects under Construction / Planning

As of Sept 30, 2014

Chengdu Zhengzhou Jinan Suzhou Kunshan Xunzhou Beijing New Sanya Shanghai Changsha Xi'an Total York

Projects under Construction

No. of projects 1 6 2 2 1 1 1 1 15

No. of units 2,461 9,357 14,075 2,903 2,563 1,452 1,199 216 34,226

GFA (sqm) 214,811 842,908 1,022,498 296,518 284,283 129,026 132,093 37,078 2,959,215

Projects under Planning

No. of projects 2 1 1 1 1 6

No. of units -

GFA (sqm) 323,607 117,819 57,185 252,647 294,065 1,045,323

Beijing Xindo Park Zhengzhou Xindo Park Xingyang Splendid Jinan Royal Palace Suzhou XIN City

40 Appendix IV Strong Board and Committees Superior Corporate Governance Led by Experienced Management Team

. Founded Xinyuan in 1997 . Received an MBA degree from Tsinghua University . Vice chairman of Henan Real Estate Association, Deputy to the 11th People’s Congress of Henan Province Yong Zhang . Over 20 years of working experience in the real estate industry Chairman & CEO

. Vice Chairman of Standard Chartered Bank, Americas. . Former Vice president and GM of Northern Projects . Prior work experience include CEO of two private Management Center at Wanda Commercial Property investment banks Co., Ltd. . Received an MBA from Wharton Graduate School of . Twenty years of experience in China’s real estate Xinqi Wang Anthony Walton Finance Director and CEO Sector Independent Director . Over 40 years of working experience in finance

. Prior experience include member of the Audit . Member of Board of Directors of two other U.S.-listed Committee in 2 U.S.-listed Chinese companies companies . Received an MBA degree from University of Santa . Expert in financial and accounting issues Clara and a bachelors degree from Stanford University . Prior experience include audit partner at Thomas Gurnee . Over 34 years of working experience in Thomas Wertheimer PricewaterhouseCoopers Director accounting, finance and management Independent Director

. Received a PhD from Renmin University of China; . Co-founder of Xinyuan visiting professor at Stanford University . Received an MBA degree from National University of . Former senior research fellow and director of the Policy Singapore Research Center of the MOHURD . Over 10 years of working experience in the real estate . Former deputy director of the Institute of Market Yuyuan Yang industry Huai Chen Research under the PRC State Councils’ Development Director & Vice President Independent Director and Research Center . Executive Vice President of Legal and Audit Administration . Received a PhD of Management Science and . Partner and MD at TPG, strategic investor of XIN Engineering, an MBA and a master’s degree in . Prior experience include MD of Goldman Sachs Yinfei Hao economics and VP of Morgan Stanley Yanjun Sun Director & Executive Vice . Over 28 years of working experience in government Director President services

. Received doctorate degree in economics from Renmin University of China . One of the earliest financial experts in China . Held progressive positions at Zhengzhou Housing . Extensive experience in corporate finance Management Bureau for approximately 18 years Yong Cui . Primarily responsible for securities and corporate Yumin Liang Director and President finance advisory duties Director

42 THANK YOU Q&A

Contact information

Manbo He CFO Xinyuan Real Estate Co., Ltd. Phone: +86 (10) 8588-9398 E-mail: [email protected]